Icahn GETS PERSONAL in campaign for seat on Moto board

Does Carl Icahn know that using capital letters in the Internet age conveys SHOUTING?
If not, perhaps Motorola Inc.’s point that he is unfamiliar with its mobile handset business-rapidly becoming as much an Internet play as a phone-is valid.
In his open letter to Motorola Inc. shareholders today, via a full-page advertisement in the Wall Street Journal, the activist investor wrote: “MOTOROLA HAS STUMBLED AND STUMBLED BADLY.”
Icahn suggested that he and ordinary shareholders are alike and that “LEADERSHIP SETBACKS” have made Motorola an undervalued company that requires “SIGNIFICANT STOCKHOLDER REPRESENTATION IN THE BOARDROOM.” In short, him.
Motorola has countered that Icahn is unfamiliar with its business and that his shifting plan to resurrect the company is lacking in pertinent detail. In his own open letter today to Moto shareholders, CEO Ed Zander said that Icahn’s role in running funds that buy and sell stock in public companies potentially conflicts with any obligations he might have to Motorola’s shareholders. Zander summarized the company’s performance since April 2003, suggesting that common stock investments at that time would be nearly triple in value today. Zander also said that Moto had attempted to work with Icahn to select a mutually acceptable board member but that he declined.
“We strongly believe that Carl Icahn is not the right person to serve on your board and we do not believe he would add value as a director,” Zander wrote.
Icahn began his push in January with a steadily mounting purchase of Motorola shares-he and his affiliates now own 68 million shares worth about $1.2 billion-and suggested that Moto’s first move should be to accelerate its stock buy-back program. Motorola subsequently announced it would accelerate its buy-back program. Since then Icahn has backpedaled on the buy-back program and instead-as in today’s letter-suggested that “Motorola has suffered a critical failure in oversight and leadership that must be addressed.”
Icahn’s letter said that he seeks a single seat on the Motorola board and “I am not seeking control of Motorola.”
The activist investor also quoted a Wall Street Journal April 27 article, which quoted Zander as saying in a closed meeting, “I love my job, I hate my customers,” referring to the four, top-tier network operators in the United States that control handset pricing in this market.
“IT SOUNDS LIKE SOMETHING STRAIGHT OUT OF ALICE IN WONDERLAND,” Icahn said in today’s letter.